The bulk cargo company, Dar es Salaam Corridor Group (DCG), will receive funding to improve methods for handling dry goods at the port in Dar.
Funding will come from the American non-profit, Soros Economic Development Fund, as well as Jacana Partners, a pan-African private equity firm that funds entrepreneurs and small-to-medium sized enterprises.
DCG is the leading company handling dry goods at the port, with services that currently include ship to shore discharging of cargo, container packing and unpacking, and logistical services for forwarding goods.
The investment will expand the volume and commodity range of DCG’s storage capacity, contribute to the expansion of Tanzania as a regional trade corridor, increase overall efficiency at the port, and create up to 150 new jobs.
Ezra Musoke, a partner from Jacana Partners, commented that Tanzania has a high growth market and flourishing small-to-medium sized business sector, and that DCG is a great example of the type of companies available for investment in the country– well-established and secure, with long-term customer relations and a high potential for growth.